JPMorgan forecasts a long-term increase in Bitcoin of up to 130 percent.
Crypto enthusiasts are ecstatic after JPMorgan revealed their long-term predictions for Bitcoin, claiming it could reach $146,000 or higher. A price increase of this magnitude would increase the value of the digital asset by 130 percent.
The forecast is based on the fact that digital assets are becoming increasingly appealing, with millennials dipping their toes into trading and preferring crypto to traditional assets. As a result, Bitcoin is solidifying its position as the digital gold standard.
Inflation has risen to a 13-year high as a result of recent events. Bitcoin has proven to be a highly effective inflation hedge, whereas gold has recently failed to meet expectations.
Bitcoin’s only remaining shortcoming is its volatility, which is currently five times that of gold. However, JPMorgan is confident that the growing popularity of digital assets among financial institutions will help stabilize prices over time.
They claim that crypto has prevailed in the aftermath of the pandemic and that there is little question that cryptocurrencies and digital assets, in general, are emergent asset classes that are on a multi-year structural uptrend.
While we can never be certain, with Bitcoin increasing by 340 percent in the previous year, a 130 percent increase appears plausible.